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StreamSend Acquired by j2 Global
StreamSend primarily serves the SMB market and has thousands of customers.
Dan Forootan ,
CEO & Founder
M&A is complex. Most sellers are at a genuine disadvantage in each phase due to asymmetric knowledge. Having SEG at our side was critical in tilting the playing field to maximize enterprise value. By leveraging years of negotiating experience and managing the process with our best interests in mind, SEG helped structure a terrific deal for me and our shareholders. I look forward to working with them again!"
- Dan Forootan, Founder & CEO, StreamSend
SEG served as exclusive advisor to StreamSend
Client Description
The company
StreamSend provides an easy-to-use, cloud-based email marketing software with cutting edge features at a fraction of the price of others.
Headquarters
Sacramento, CA
Buyer Description
The company
j2 Global is a publicly traded cloud services, unified communications, and digital media company with over 3.1M customers.
Headquarters
Los Angeles, CA
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PRESS RELEASE OVERVIEW
SEG Client, StreamSend, Acquired By j2 Global
Oct. 12, 2017 — j2 Global, Inc. (Nasdaq: JCOM), a provider of Internet services and digital media, announced Thursday that it continues to expect fiscal 2017 adjusted earnings per share of between $5.60 and $6.00. j2 now estimates that it will achieve revenues between $1.107 billion and $1.147 billion, lower than previously expected $1.130 billion to $1.170 billion.
In premarket activity, shares were losing around 3 percent to $75.38.
The company sold Cambridge BioMarketing LLC, a subsidiary of Everyday Health, Inc. In addition, j2 announced that it has sold Web24, its Australian hosting business, and Tea Leaves Health, LLC, a subsidiary of Everyday Health, Inc.
The three divestitures are expected to reduce the Company’s revenue by approximately $23 million in the second half of the year.
Further, the company said it has completed two acquisitions in the third quarter of 2017, spanning two business units and two countries. The company acquired backupsonline in the Netherlands and StreamSend in the USA. Terms of the individual acquisitions were not disclosed, and the financial impact to j2 is not expected to be material with respect to those acquisitions.